How do you rent office space?


Quick Answer

To rent office space, determine how much space you or your business needs, think about potential neighborhoods, draw up a budget, and interview commercial real estate brokers, advises Entrepreneur. Ask the brokers how well they know the neighborhoods in which you want to rent, and select the broker you feel is the most knowledgeable and competent.

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How do you rent office space?
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Full Answer

In ideal situations, the space that a prospective renter likes matches the layout needs of his business, but when this is not the case, tenant improvements are a possible option, says Entrepreneur. A landlord is more willing to contribute costs toward such renovations if a business signs a long-term lease, typically one lasting more than two years.

However, if a business is new and small, it's often best to take out leases of only one or two years, although companies should have the option to renew, notes the U.S. Small Business Administration. A broker can help negotiate the amount of rent, and enlisting the help of a commercial real estate lawyer protects the interests of a business. For example, a lease might hold a business responsible for upkeep and prohibit it from subleasing or having co-tenants. On the other hand, a business might want to keep its landlord from leasing space on his property to a competitor.

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